20 THE GOLDEN YEARS 25 OCTOBER 2015 Financial Services, Investment & Private Client


‘You go to heaven if you want, I’d rather stay in Bermuda’ – Mark Twain


advantages of life in Bermuda. He wrote, ‘Tere are no newspapers, no


M


telegrams, no mobiles, no trolleys, no trams, no tramps, no railways, no theatres, no noise, no lectures, no riots, no murders, no fires, no burglaries, no politics, no offenses of any kind, no follies but church, and I don’t go there… Te spirit of the place is serenity, repose, contentment, tranquility.’ A lot has changed since then, yet Bermuda’s


rich quality of life — promising a hospitable climate, natural beauty, a stable political and economic environment, ease of access to North America and the UK, high standard of living and sophisticated infrastructure — ensures that the islands’ appeal endures. Discovered in 1505 by Juan de Bermúdez,


the islands were first settled by the English in 1609. Today, Bermuda is Britain’s oldest self-governing overseas territory and British influence is evident in the islands’ Westminster- style government, educational system and legal institutions. Its parliament, which first met in session in 1620, is the third-oldest continuous parliament in the world. Although the main island is


just 21 sq


miles, it offers a tremendous range of activities on both land and water. Tennis, cycling, cricket, football, rugby, squash, chess, bridge and amateur dramatics are all popular and there are more golf courses per sq mile than anywhere else in the world. Watersports such as parasailing,


wakeboarding, jet-skiing, deep sea fishing, snorkelling and diving are also much loved. With over 300 wrecks to explore, Bermuda


is the shipwreck capital of the world. Sailing remains a popular activity and, in June 2017, Bermuda will host


the 35th America’s Cup


— the pinnacle of international sailing for more than 160 years.


Te islands are not purely about having


fun in the sun, however. Bermuda is a leading international business centre and one of the world’s top three reinsurance markets. It also has a strong reputation as a sophisticated and stable jurisdiction for asset preservation and wealth management, backed by a neutral tax platform with no income tax, inheritance tax, corporate profits tax, capital gains tax, giſt tax or other wealth taxes. With


high standards of compliance,


regulation and transparency, Bermuda adheres to US and UK anti-money laundering and anti- terrorist financing requirements. In 2009 it became the first offshore jurisdiction elevated


to the Organisation for Economic Co-operation and Development’s ‘white list’ for jurisdictions that have implemented internationally agreed tax standards. For those considering Bermuda as a business


domicile, there are many leading accountancy firms, law firms, bankers, investment managers, trust managers, health and property insurance


providers, relocation experts


and professional realtors ready to advise on personal and corporate taxation, the relocation of personal and commercial interests and the establishment of a new residence on the island. Purchasing a home is relatively straightforward, but those wishing to buy will


“If you’re considering a new business domicile, a second home or even relocating for your golden years, Bermuda could be the right choice for you”


always benefit from professional advice. Tere are controls on the right to live and the right to work on the island, as well as rules and fees associated with the acquisition of property. Around 5% of the stock of private homes


is available to international purchasers and such properties range from large mansions to pied-à-terre condominiums. Owning property doesn’t convey any citizenship rights, but property rights are ultimately enforced by the Privy Council in London. An experienced realtor can assist newcomers


in navigating the property market, introduce them to key service providers, and ensure the big move is completed in the most efficient way. With its long-standing relationship with


the UK, neutral tax platform and rich quality of life, Bermuda offers fun and friendship together with considerable business benefits.


David Hyland is a principal of My Bermuda House, a Bermuda realtor specialising in residential sales and rentals. For more information, visit the website: www.my-bermuda-house.com


ark Twain was endlessly enthusiastic about Bermuda


and in a


letter dated 1910, he expounded on the


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48